The Future of Music: Trends in the Industry
Review and photos by: Patrick Axovius, Writer @Triqueofficial
Edited by: Andrew Perrizo, Owner/Editor @PlaylistTC
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Patrick Axovius is a seasoned music executive based in Minnesota with over eight years of experience managing artists, branding social media sensations, and working as an A&R/Producer for talented artists. About a decade ago, Patrick toured venues around Illinois and neighboring locations with his fusion pop band 'Cheddar Base,' headlining his first show and selling about 1000 tickets, all before turning 19. Patrick has gained extensive knowledge and expertise in the music industry from his experience working with Jton Music, a Houston-based management firm that supports globally renowned Afrobeats artists such as Yemi Alade and Paul (one half of the Psquare Duo). He currently develops young talents and plans to establish his own label in the future to revolutionize the music business.
Have you ever stopped to notice how quickly the world is evolving? It seems like every few years, some new trend comes along and shakes things up or takes us to the next level. Even the music industry hasn't been immune to these speedy changes. It's wild to think about how much things have evolved in such a short time!
To think that in just under a decade, music streaming services have taken over the digital download scene. I mean, who would have thought that we would be streaming our favorite tunes instead of purchasing and downloading them?
It's been pretty wild watching Instagram take over the music branding and marketing scene, and we've seen a real shift in the hip-hop world towards trap music. It's kinda crazy, right? Like, who saw that coming? But it's got me thinking... what's next? What other surprises does the future have in store for us?
You know, every new product or trend that takes over the music industry doesn't just happen overnight. It starts out as a small spark and grows into a blazing fire. So, let's hang out for a bit and chat about the current trends that are making waves in the game. Sound good?
Fewer Gatekeepers in the Music Industry
The internet has really changed the game for independent artists, making it easier than ever to create and distribute their own music. With digital audio workstations and other recording equipments becoming more affordable and accessible, artists now produce high-quality tracks from the comfort of their own homes. It's a great time to be a musician!
The rise of independent artists has been a game-changer, with more and more musicians bypassing traditional gatekeepers like record labels and radio stations, and instead using social media and other online platforms to build their own fan bases. It's a trend that's likely to continue, as more and more artists realize the benefits of maintaining control over their own careers. It's exciting to see what the future holds for these independent creatives!
Rising Demand for New Music Styles
Fans are always on the lookout for the latest and greatest sounds. Lately, there's been a huge surge in popularity for music styles from all over the world - like Afrobeats and K-Pop. And let me tell you, these genres are blowing up big time in the US! Crossover artists like Burna Boy and BTS are crushing it and building huge followings. And with the internet making it easier for fans to find and listen to music from all over, we can expect to see more fresh sounds and cross-pollination of different music styles in the future. It's a pretty exciting time to be a music fan, if you ask me!
Labels these days are all about the streams and concert sales, and they've got the tech to back it up. With advanced data analytics and streaming metrics, they can pinpoint exactly where their artists are most popular and focus their marketing efforts there. So, they're basically playing it smart and going where they know they'll succeed.
Streaming Dominates Music Consumption
Streaming is the way to go when it comes to listening to music these days. Services like Spotify and Apple Music give you access to a ton of songs for a monthly fee, making it super easy to find new music you love.
Plus, artists get paid for every stream, so it's a win-win situation. It does have its down sides though: only established artists get to really make a living off their music because the payouts are usually very small in terms of percentage. However, with physical media like CDs and vinyl on the decline, streaming is definitely here to stay and will likely remain the top way people consume music for a while.
Podcasts are seizing the moment!
You know what's really popular these days? Podcasts and other forms of audio content! And the music industry is catching on. Some labels are starting to invest in podcast production, seeing it as a great way to cross-promote and build their brand. And for artists, collaborating with podcasters can be a smart move, as it opens up new audiences and expands their brand beyond just music. With all the voice-activated gadgets like smart speakers on the rise, we'll likely see even more integration between music and spoken content in the future.
AI and Machine Learning are Changing the Game
AI and machine learning are totally making their way into the music industry. They're doing cool stuff like making the listening experience even better and helping with music production. For example, producers can use AI to figure out the sickest chord progressions and even generate lyrics. Also, music streaming services are using machine learning to personalize what you listen to based on your past listening habits. Like, they're analyzing your preferences and giving you recommendations that fit your style.
AI and machine learning are helping to detect and remove music piracy. These technologies scan online content and compare it to copyrighted works to identify and take down infringing content. While this has been successful in reducing piracy, it also raises concerns about privacy and freedom of expression.
It gets better (or scary) as new AI music creation tools are being churned out. Tools that can mimic vocals of your favourites artists and make full songs with the vocal sample. Whichever way the AI trend follows, we’re gonna be here to experience it.
Social Media Remains Pivotal
The music industry is changing, and social media is playing a big role. Established artists with massive followings are getting more attention and opportunities compared to newer acts. This makes it tough for fresh faces to break into the industry and make a name for themselves.
But, up-and-coming artists can still make it big by building a strong social media presence. Instagram, TikTok, Twitter, and other platforms are great tools for connecting with fans and building a loyal following. So if you're a newer act trying to get noticed, focus on creating awesome content and engaging with your fans on social media.
Social media also provides a low-cost way for artists to reach new audiences and build their fan base. As social media platforms continue to evolve and new ones emerge, we can expect to see even more innovative uses of these platforms for music promotion and engagement.
Well, we gotta come to and end for now. The future of the music industry is looking real bright! We're talking about non-stop innovation and growth. With new tech popping up and people's preferences changing all the time, the industry will need to keep up and take advantage of new opportunities to stay relevant and keep those dollars rolling in.